UAE's credit card spending surged 8.3% in the first quarter 2018, Region’s wealthy optimistic on both regional and global economic outlook, BVLGARI Hotels & Resorts scheduled to open in 2022.

Market News

UAE's credit card spending surged 8.3% in the first quarter 2018.

Consumer spending on cards in the UAE increased by 8.33 per cent in the first quarter of 2018 driven by spend on food & entertainment and travel & hospitality categories, according to card spend data from Network International, the leading payment solutions provider in the Middle East and Africa region. Network Index of Consumer Spend (NICS), the first-of-its-kind cards spending index that tracks changes in consumer card spending in the UAE on a quarterly basis. The Index was at 142.47 as compared to 131.51 in the first quarter of 2017 according to a recent article published in Gulf News.

Region’s wealthy optimistic on both regional and global economic outlook

High net-worth individuals (HNWI) from the region are optimistic on both the regional and global economic outlook, according to the GCC Wealth Insight Report, a survey-based study by Emirates Investment Bank (EIBank) that provides intelligence on the collective economic and investment outlook of the region’s wealthy. The report, in its fifth year of publication, is based on a survey of 107 HNWIs with $2 million (Dh7.34 million) or more in investable assets.

HNWIs in the GCC also expect the positive global and regional economic trajectory to continue over the next five years. Current oil prices and upcoming high-profile events, such as Expo 2020 Dubai, were stated as reasons for optimism, whilst the economic impact of regional conflict is still creating a concern.

Company News

BVLGARI Hotels & Resorts scheduled to open in 2022 a new hotel in Tokyo.

Mitsui Fudosan Co., Ltd., signed an agreement with Bvlgari Hotels & Resorts to open Japan’s first Bvlgari Hotel in the large-scale, mixed-use development planned for the Tokyo Station area. The Bvlgari Hotel Tokyo is scheduled to open at the end of 2022.

Jacob & Co. teams up with Luis Figo.

Jacob & Co. partners with football legend, Luis Figo, of Sporting Lisbon, FC Barcelona, and Real Madrid fame, introduced three new limited edition timepieces during the international watch and jewelry fair, Baselworld 2018. The Epic X Chrono Luis Figo Limited Edition watches, featuring Figo’s name engraved on the case back along with his applied signature, and his jersey number “10” in red on the dial’s rehaut, will be expansion upon the brand’s existing Epic X Chrono Collection.

Officine Panerai opens doors to its London Boutique

Officine Panerai opens its doors to its new London Boutique on 30 New Bond Street. To celebrate the opening, Officine Panerai teamed up with Sotheby’s to auction off a unique bronze watch, the Luminor Submersible 1950 3 Days Automatic Bronzo – 47mm.

IWC Schaffhausen celebrates its 150th anniversary.

IWC Schaffhausen celebrates its 150th anniversary on 18th April at an intimate dinner held at the iconic Burj Khalifa in Dubai and hosted by Christoph Grainger-Herr, CEO of IWC Schaffhausen, in the presence of legendary watchmaker, inventor of the perpetual calendar and integral part of IWC’s 150-year history, Kurt Klaus. The star-studded evening was also attended by IWC brand ambassadors Sonam Kapoor and Raya Abirached.

The sound of CHANEL only on Apple Music.

CHANEL revealed a collection of curated playlists as a worldwide exclusive on Apple Music. Fashion and music fans alike can enjoy listening to the CHANEL SHOW SOUNDTRACKS, which includes a musical "best-of" from the latest CHANEL shows from sound designer Michel Gaubert. CHANEL ambassador and spokesperson Caroline de Maigret, musician Sébastien Tellier and the band Ibeyi, among others.

ANONIMO returns on the GC32 Racing Tour and World Championship.

ANONIMO renews its support as Official Timekeeper for the ultra-fast flying catamaran series in 2018 and extending it to the class’ first ever GC32 World Championship. This will take place in Italy on the beautiful Lake Garda over 23-27 May 2018 and will include ANONIMO Speed Challenge, created last year.

Gems & Jewellery Exports from India reported USD 40972.36 mn in FY18

The Gem & Jewellery Export Promotion Council (GJEPC) of India, announced the performance figures for the Indian Gems & Jewellery Sector for FY 20017-18. The Indian Gem and Jewellery industry has witnessed a decline of 5.06 % with total gem & jewellery exports recorded at USD 40972.36 million (Rs. 264130.64 crores ) as compared to USD 43,157.11 million ( Rs. 289207.47 crores) in the same period last year.

Product Launch

GUESS Watches announces the addition of watches powered by Android Wear

GUESS Connect will run Android Wear™ 2.0, the most significant update Google™. The new timepieces are powered by the Qualcomm® Snapdragon™ Wear 2100 processor, a sleek 44mm case hosts a variety of dress and sport styles for the man who wants versatility in his watch accessory. GUESS Connect works with both iOS and Android™ smartphones. The Ladies version is a comfortably chic 41mm case. Clear crystals surround the case in a variety of silver, gold, and rose gold variations.

TAG Heuer releases Connected Modular 41

TAG Heuer Connected Modular 41 dial to suit every individual style, the Connected Modular 41 is the ultimate in luxurious connectivity. The Silver Titanium Connected Modular 41 is sleek, elegant, simple, and stylish suiting any occasion, while the Black PVD Titanium version maintains that sporty yet discerning and dignified look, adaptable to both business and pleasure.

CENTURY presents PRIME TIME

PRIME TIME is available in a new version equipped with prodigious skeleton self-winding movement. The PRIME TIME spirit is present in the slightest details: the design of the inner bezel marking the passing time, the modernity of the raised markers, and the straight, openworked hands coated with a luminescent treatment that reveals their graphic precision at night. PRIME TIME is water-resistant to 100 meters, and it is equipped with a brushed matte black rubber strap that perfectly integrates into the case.

BVLGARI presents its new Stackable Serpenti Viper Bangles.

Serpenti Viper celebrates the powerful snake, capturing the viper’s sensuality and colour in a distinctive style with entirely no equivalent. Serpenti Viper Bangles sheath your arm in a captivating, snake-like skin but subtly so: just as the viper camouflages itself and lays in wait, the jewelry’s snakeskin motif is soft and understated.

Exhibitions & Events

U-BOAT exhibited at Inhorgenta Munich, international trade fair.

U-BOAT exhibited at Inhorgenta Munich from 16th to 19th of February. The Munich international trade fair for jewelery, watches and lifestyle was been chosen by U-BOAT for its role as one of the leading trade fairs in the sector. At the Inhorgenta the brand puts under the spotlight the latest creations: Stratos, the ultra-thin Classico watch.

Celebrity News

Celebrities wearing CHANEL at the 2018 Tribeca Film Festival Artists Dinner in New York

Ella PURNELL, CHANEL Ambassador, wore a black leather skirt, look 59, from the Spiring-Summer Act 1 Ready-to-Wear collection & a white top. CHANEL shoes & bag. Soo Joo PARK wore CHANEL Fine Jewelry: “Coco Crush” rings and bracelet in 18K yellow gold and diamonds. Anna EWERS wore a CHANEL Fine Jewelry: “Camélia Précieux” pendant necklace in 18K white gold and diamonds.

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